메뉴 건너뛰기




Volumn 14, Issue 2, 2000, Pages 191-214

On the use of collateral

(1)  Coco, Giuseppe a  

a NONE

Author keywords

Asymmetric information; Credit market; Rationing

Indexed keywords

CREDIT PROVISION; LENDING BEHAVIOR; THEORETICAL STUDY;

EID: 0034008592     PISSN: 09500804     EISSN: None     Source Type: Journal    
DOI: 10.1111/1467-6419.00109     Document Type: Article
Times cited : (112)

References (60)
  • 1
    • 85005305538 scopus 로고
    • The market for lemons: Qualitative uncertainty and the market mechanism
    • Akerlof, G. (1970) The market for lemons: Qualitative uncertainty and the market mechanism. Quarterly Journal of Economics, 488-500.
    • (1970) Quarterly Journal of Economics , pp. 488-500
    • Akerlof, G.1
  • 3
    • 0001182327 scopus 로고
    • The loan market, collateral, and rate of interest
    • Barro, R. J. (1976) The loan market, collateral, and rate of interest. Journal of Money, Credit and Banking, 8, 839-856.
    • (1976) Journal of Money, Credit and Banking , vol.8 , pp. 839-856
    • Barro, R.J.1
  • 4
    • 0010969316 scopus 로고
    • Competitive screening in financial markets when borrowers can recontract
    • Beaudry, P. and Poitevin, M. (1995) Competitive screening in financial markets when borrowers can recontract. Review of Economic Studies, 62, 401-423.
    • (1995) Review of Economic Studies , vol.62 , pp. 401-423
    • Beaudry, P.1    Poitevin, M.2
  • 5
    • 0001778789 scopus 로고
    • Collateral, loan quality, and bank risk
    • Berger, A. N. and Udell, G. F. (1990) Collateral, loan quality, and bank risk. Journal of Monetary Economics, 25, No. 1, 21-42.
    • (1990) Journal of Monetary Economics , vol.25 , Issue.1 , pp. 21-42
    • Berger, A.N.1    Udell, G.F.2
  • 6
    • 0038127300 scopus 로고
    • Relationship lending and lines of credit in small firms finance
    • Berger, A. N. and Udell, G. F. (1995) Relationship lending and lines of credit in small firms finance. Journal of Business 68, No. 3, 351-381.
    • (1995) Journal of Business , vol.68 , Issue.3 , pp. 351-381
    • Berger, A.N.1    Udell, G.F.2
  • 7
    • 0001209480 scopus 로고
    • Collateral and rationing: Sorting equilibria in monopolistic and competitive credit markets
    • Besanko, D. and Thakor, A. V. (1987a) Collateral and rationing: sorting equilibria in monopolistic and competitive credit markets. International Economic Review, 28, No. 3, 671-689.
    • (1987) International Economic Review , vol.28 , Issue.3 , pp. 671-689
    • Besanko, D.1    Thakor, A.V.2
  • 8
    • 38249033570 scopus 로고
    • Competitive equilibrium in the credit market under asymmetric information
    • Besanko, D. and Thakor, A. V. (1987b) Competitive equilibrium in the credit market under asymmetric information. Journal of Economic Theory, 42, 167-182.
    • (1987) Journal of Economic Theory , vol.42 , pp. 167-182
    • Besanko, D.1    Thakor, A.V.2
  • 9
    • 0342385545 scopus 로고
    • A note on the non-existence of a rationing equilibrium in the Besanko-Thakor model
    • Besanko, D. and Thakor, A. V. (1993) Response to 'A note on the non-existence of a rationing equilibrium in the Besanko-Thakor model.' International Economic Review, 34, No. 3, 739-740.
    • (1993) International Economic Review , vol.34 , Issue.3 , pp. 739-740
    • Besanko, D.1    Thakor, A.V.2
  • 10
    • 84981865845 scopus 로고
    • Screening vs. rationing in credit markets with imperfect information
    • Bester, H. (1985) Screening vs. rationing in credit markets with imperfect information. American Economic Review, 75, No. 4, 850-855.
    • (1985) American Economic Review , vol.75 , Issue.4 , pp. 850-855
    • Bester, H.1
  • 11
    • 38249033877 scopus 로고
    • The role of collateral in credit market with imperfect information
    • Bester, H. (1987) The role of collateral in credit market with imperfect information. European Economic Review, 31, 887-899.
    • (1987) European Economic Review , vol.31 , pp. 887-899
    • Bester, H.1
  • 12
    • 21344478309 scopus 로고
    • The role of collateral in a model of debt renegotiation
    • Bester, H. (1994) The role of collateral in a model of debt renegotiation. Journal of Money Credit and Banking, 26, No. 1, 72-86.
    • (1994) Journal of Money Credit and Banking , vol.26 , Issue.1 , pp. 72-86
    • Bester, H.1
  • 14
    • 0029729897 scopus 로고    scopus 로고
    • House prices, the supply of collateral and the enterprise economy
    • Black, J., de Meza, D. and Jeffreys, D. (1996) House prices, the supply of collateral and the enterprise economy. The Economic Journal, 106, 60-75.
    • (1996) The Economic Journal , vol.106 , pp. 60-75
    • Black, J.1    De Meza, D.2    Jeffreys, D.3
  • 15
    • 21444444859 scopus 로고
    • Moral hazard and secured lending in an infinitely repeated market game
    • Boot, A. W. A., Thakor, A. V. (1994) Moral hazard and secured lending in an infinitely repeated market game. International Economic Review, 35, No. 4, 899-920.
    • (1994) International Economic Review , vol.35 , Issue.4 , pp. 899-920
    • Boot, A.W.A.1    Thakor, A.V.2
  • 16
    • 0001403052 scopus 로고
    • Secured lending and default risk: Equilibrium analysis, policy implications and empirical results
    • Boot A. W. A., Thakor A. V., and Udell G. F. (1991) Secured lending and default risk: Equilibrium analysis, policy implications and empirical results. The Economic Journal, 101, No. 3,458-472.
    • (1991) The Economic Journal , vol.101 , Issue.3 , pp. 458-472
    • Boot, A.W.A.1    Thakor, A.V.2    Udell, G.F.3
  • 17
    • 0001732022 scopus 로고
    • Contract costs, bank loans, and the cross-monitoring hypothesis
    • Booth, J. R. (1992) Contract costs, bank loans, and the cross-Monitoring hypothesis. Journal of Financial Economics 31, No. 1, 25-42.
    • (1992) Journal of Financial Economics , vol.31 , Issue.1 , pp. 25-42
    • Booth, J.R.1
  • 18
    • 0002582975 scopus 로고
    • Asymmetric valuation and the role of collateral in loan agreements
    • Chan Y. S. and Kanatas G. (1985) Asymmetric valuation and the role of collateral in loan agreements. Journal of Money, Credit and banking, 17, No. 1, 84-95.
    • (1985) Journal of Money, Credit and Banking , vol.17 , Issue.1 , pp. 84-95
    • Chan, Y.S.1    Kanatas, G.2
  • 19
    • 84977718809 scopus 로고
    • Collateral and competitive equilibria with moral hazard and private information
    • Chan, Y. S. and Thakor, A. V. (1987) Collateral and competitive equilibria with moral hazard and private information. The Journal of Finance XLII, No. 2, 345-363.
    • (1987) The Journal of Finance , vol.42 , Issue.2 , pp. 345-363
    • Chan, Y.S.1    Thakor, A.V.2
  • 21
    • 0343690717 scopus 로고
    • A note on the non-existence of a rationing equilibrium in the Besanko-Thakor model
    • Clemenz, G. (1993) A note on the non-existence of a rationing equilibrium in the Besanko-Thakor model. International Economic Review, 34, No. 3, 727-737.
    • (1993) International Economic Review , vol.34 , Issue.3 , pp. 727-737
    • Clemenz, G.1
  • 22
    • 0342820334 scopus 로고    scopus 로고
    • Discussion Papers in Economics - University of Exeter, n. 5/98
    • Coco, G. (1998) On the use of collateral. Discussion Papers in Economics - University of Exeter, n. 5/98.
    • (1998) On the Use of Collateral
    • Coco, G.1
  • 23
    • 0033379648 scopus 로고    scopus 로고
    • Collateral, heterogeneity in risk attitude and the credit market equilibrium, forthcoming
    • Coco, G. (1999) Collateral, heterogeneity in risk attitude and the credit market equilibrium, forthcoming. European Economic Review 43, n. 5, 559-574.
    • (1999) European Economic Review , vol.43 , Issue.5 , pp. 559-574
    • Coco, G.1
  • 24
    • 0000745494 scopus 로고    scopus 로고
    • The borrower's curse: Optimism, finance and entrepreneurship
    • de Meza, D. and Southey, C. (1996) The borrower's curse: Optimism, finance and entrepreneurship The Economic Journal 375-386.
    • (1996) The Economic Journal , pp. 375-386
    • De Meza, D.1    Southey, C.2
  • 25
    • 0000136455 scopus 로고
    • Too much investment: A problem of asymmetric information
    • de Meza, D. and Webb, D. C. (1987) Too much investment: A problem of asymmetric information. Quarterly Journal of Economics, 102, 281-292.
    • (1987) Quarterly Journal of Economics , vol.102 , pp. 281-292
    • De Meza, D.1    Webb, D.C.2
  • 27
    • 0000029054 scopus 로고    scopus 로고
    • Wealth, enterprise and credit policy
    • de Meza, D. and Webb, D. C. (1999) Wealth, enterprise and credit policy The Economic Journal, 109, 153-163.
    • (1999) The Economic Journal , vol.109 , pp. 153-163
    • De Meza, D.1    Webb, D.C.2
  • 28
    • 47749120440 scopus 로고
    • Financial intermediation and delegated monitoring
    • Diamond, D.W. (1984) Financial intermediation and delegated monitoring. Review of Economic Studies, LI, 393-414.
    • (1984) Review of Economic Studies , vol.51 , pp. 393-414
    • Diamond, D.W.1
  • 29
    • 0012125938 scopus 로고
    • Incentive-compatible debt contracts: The one-period problem
    • Gale, D. and Hellwig, M. (1985) Incentive-Compatible debt contracts: The one-period problem Review of Economic Studies, LII, 647-663.
    • (1985) Review of Economic Studies , vol.52 , pp. 647-663
    • Gale, D.1    Hellwig, M.2
  • 30
    • 0008494192 scopus 로고
    • Collateral, rationing, and government intervention in credit markets
    • Hubbard, R. G. (1990) The University of Chicago Press
    • Gale, W. G. (1990) Collateral, rationing, and government intervention in credit markets in Hubbard, R. G. (1990) Asymmetric Information, Corporate Finance, and Investment The University of Chicago Press.
    • (1990) Asymmetric Information, Corporate Finance, and Investment
    • Gale, W.G.1
  • 32
    • 84960599817 scopus 로고
    • A theory of debt based on inalienability of human capital
    • Hart, O. and Moore, J. (1994) A theory of debt based on inalienability of human capital. Quarterly Journal of Economics, 109, 841-879.
    • (1994) Quarterly Journal of Economics , vol.109 , pp. 841-879
    • Hart, O.1    Moore, J.2
  • 33
    • 0039993932 scopus 로고    scopus 로고
    • Default and renegotiation: A dynamic model of debt
    • Hart, O. and Moore, J. (1998) Default and renegotiation: A dynamic model of debt. Quarterly Journal of Economics, 113, 1-26.
    • (1998) Quarterly Journal of Economics , vol.113 , pp. 1-26
    • Hart, O.1    Moore, J.2
  • 34
  • 37
    • 84960566039 scopus 로고
    • Imperfect information, uncertainty, and credit rationing
    • Jaffee, D. M. and Russell, T. (1976) Imperfect information, uncertainty, and credit rationing, Quarterly Journal of Economics, 91, 651-666.
    • (1976) Quarterly Journal of Economics , vol.91 , pp. 651-666
    • Jaffee, D.M.1    Russell, T.2
  • 38
    • 0001621898 scopus 로고
    • Credit rationing
    • Friedman, B. M. and Hahn, F. H. (eds.)
    • Jaffee, D. M. and Stiglitz, J. (1990) Credit rationing in Friedman, B. M. and Hahn, F. H. (eds.) Handbook of Monetary Economics, vol. II, 838-888.
    • (1990) Handbook of Monetary Economics , vol.2 , pp. 838-888
    • Jaffee, D.M.1    Stiglitz, J.2
  • 39
    • 44649197264 scopus 로고
    • Theory of the firm: Managerial behaviour, agency costs and capital structure
    • Jensen, M. C. and Meckling, W. H. (1976) Theory of the firm: Managerial behaviour, agency costs and capital structure. Journal of Financial Economics, 3, 305-360.
    • (1976) Journal of Financial Economics , vol.3 , pp. 305-360
    • Jensen, M.C.1    Meckling, W.H.2
  • 43
    • 84974224130 scopus 로고
    • The incidence of secured debt: Evidence from the small business community
    • Leeth, J. D. and Scott, J. A. (1989) The incidence of secured debt: Evidence from the small business community. Journal of Financial and Quantitative Analysis, 24, No. 3, 379-394.
    • (1989) Journal of Financial and Quantitative Analysis , vol.24 , Issue.3 , pp. 379-394
    • Leeth, J.D.1    Scott, J.A.2
  • 44
    • 38249019403 scopus 로고
    • Screening in credit markets -the role of collateral
    • Mattesini, F. (1990) Screening in credit markets -the role of collateral. European Journal of Political Economy, 6, 1-22.
    • (1990) European Journal of Political Economy , vol.6 , pp. 1-22
    • Mattesini, F.1
  • 47
    • 84862244566 scopus 로고
    • The effect of credit market competition on lending relationships
    • Petersen, M. A. and Rajan, R. G. (1995) The effect of credit market competition on lending relationships. Quarterly Journal of Economics, 110, No. 2, 406-443.
    • (1995) Quarterly Journal of Economics , vol.110 , Issue.2 , pp. 406-443
    • Petersen, M.A.1    Rajan, R.G.2
  • 48
    • 0000785522 scopus 로고
    • Informational equilibrium
    • Riley, J. G. (1979) Informational equilibrium. Econometrica, 47, No. 2, 331-360.
    • (1979) Econometrica , vol.47 , Issue.2 , pp. 331-360
    • Riley, J.G.1
  • 49
    • 84960565386 scopus 로고
    • Equilibrium in competitive insurance markets: The economics of imperfect information
    • Rothschild, M. and Stiglitz J. (1976) Equilibrium in competitive insurance markets: The economics of imperfect information. Quarterly Journal of Economics, 629-649.
    • (1976) Quarterly Journal of Economics , pp. 629-649
    • Rothschild, M.1    Stiglitz, J.2
  • 50
    • 0010169104 scopus 로고    scopus 로고
    • Rationing versus collateralization in competitive and monopolistic credit markets with asymmetric information
    • Schmidt-Mohr, U. (1997) Rationing versus collateralization in competitive and monopolistic credit markets with asymmetric information. European Economic Review 41, No. 7, 1321-1342.
    • (1997) European Economic Review , vol.41 , Issue.7 , pp. 1321-1342
    • Schmidt-Mohr, U.1
  • 52
    • 0000342340 scopus 로고
    • Credit rationing in markets with imperfect information
    • Stiglitz, J. and Weiss, A. (1981) Credit rationing in markets with imperfect information. The American Economic Review, 71, No. 3, 393-410.
    • (1981) The American Economic Review , vol.71 , Issue.3 , pp. 393-410
    • Stiglitz, J.1    Weiss, A.2
  • 53
    • 0003361899 scopus 로고
    • Credit rationing and collateral
    • Edwards J., Franks J., Mayer C., Schaefer S. (eds.) (1986) Cambridge University Press
    • Stiglitz, J. E. and Weiss, A. (1986) Credit rationing and collateral in Edwards J., Franks J., Mayer C., Schaefer S. (eds.) (1986) Recent developments in corporate Finance Cambridge University Press.
    • (1986) Recent Developments in Corporate Finance
    • Stiglitz, J.E.1    Weiss, A.2
  • 54
    • 0001522553 scopus 로고
    • Asymmetric information in credit markets and its implications for macro-economics
    • Stiglitz, J. E. and Weiss, A. (1992) Asymmetric information in credit markets and its implications for macro-Economics. Oxford Economics Papers, 44, 694-724.
    • (1992) Oxford Economics Papers , vol.44 , pp. 694-724
    • Stiglitz, J.E.1    Weiss, A.2
  • 56
    • 0009424011 scopus 로고
    • Optimal contracts and competitive markets with costly state verifications
    • Townsend, R. (1978) Optimal contracts and competitive markets with costly state Verifications. Journal of Economic Theory, 21, 417-425.
    • (1978) Journal of Economic Theory , vol.21 , pp. 417-425
    • Townsend, R.1
  • 57
    • 0000957101 scopus 로고
    • Credit markets and borrower effort
    • Watson, H. (1984) Credit markets and borrower effort. Southern Economic Journal, 50, 802-813.
    • (1984) Southern Economic Journal , vol.50 , pp. 802-813
    • Watson, H.1
  • 58
    • 0000320985 scopus 로고
    • Collateral and credit rationing in markets with imperfect information: Note
    • Wette, H. (1983) Collateral and credit rationing in markets with imperfect information: Note. American Economic Review, 73, No. 3, 442-445.
    • (1983) American Economic Review , vol.73 , Issue.3 , pp. 442-445
    • Wette, H.1
  • 59
    • 46149128200 scopus 로고
    • Costly monitoring, financial intermediation and equilibrium credit rationing
    • Williamson, S.D. (1986) Costly monitoring, financial intermediation and equilibrium credit rationing. Journal of Monetary Economics, 18, 159-179.
    • (1986) Journal of Monetary Economics , vol.18 , pp. 159-179
    • Williamson, S.D.1
  • 60
    • 34547547122 scopus 로고
    • The strategic analysis of intermediation
    • Yanelle, M. O. (1989) The strategic analysis of intermediation. European Economic Review, 33, 294-301.
    • (1989) European Economic Review , vol.33 , pp. 294-301
    • Yanelle, M.O.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.